Q: “Once the billion dollar threshold is reached, does the reduction from 100% (use of funds for rental housing) to 75% apply to all $1 billion+ or does it only apply to those amounts over the $1 billion threshold?”

A: Once there is more than $1 billion in the HTF (oh happy day!) then a minimum of 75% of whatever amount a state receives in a given year must benefit ELI households (the aggregate of renter as well as homeowner); no more than 25% could be used to benefit households with incomes up to 50% AMI. If there is less than $1 billion, then 100% of whatever amount a state receives must benefit households with incomes at or less than 30% AMI or less than the federal poverty line, whichever is greater.

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